Rapid Micro Biosystems Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
The Options have an exercise price of $3.45 per share, which is equal to the closing price of Common Stock on their grant date. Twenty-five percent (25%) of Options will vest and become exercisable on the first anniversary of their grant date, and 1/48th of Options will vest and become exercisable each month thereafter, in each case, subject to such employee's continued employment on each vesting date.
The RSUs will vest annually over a three-year period, with one-third of the RSUs vesting on each anniversary of their grant date, subject to such employee's continued employment on each vesting date.
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee of the Company, or following a bona fide period of non-employment, as an inducement material to such individual's entering into employment with the Company, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
About Rapid Micro Biosystems
Rapid Micro Biosystems is an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products such as biologics, vaccines, cell and gene therapies, and sterile injectables. The Company's flagship Growth Direct system automates and modernizes the antiquated, manual microbial quality control ('MQC') testing workflows used in the largest and most complex pharmaceutical manufacturing operations across the globe. The Growth Direct system brings the quality control lab to the manufacturing floor, unlocking the power of MQC automation to deliver the faster results, greater accuracy, increased operational efficiency, better compliance with data integrity regulations, and quicker decision making that customers rely on to ensure safe and consistent supply of important healthcare products. The Company is headquartered Lexington, Massachusetts and has U.S. manufacturing in Lowell, Massachusetts, with global locations in Switzerland, Germany, and the Netherlands. For more information, please visit www.rapidmicrobio.com or follow the Company on X (formerly known as Twitter) at @rapidmicrobio or on LinkedIn.CONTACT: Investor Contact: Michael Beaulieu, CFA Vice President, Investor Relations and Corporate Communications mbeaulieu@rapidmicrobio.com Media Contact: media@rapidmicrobio.comSign in to access your portfolio
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